Post
Topic
Board Bitcoin Discussion
Re: Do increased Bitcoin fees benefit anyone else except miners?
by
btc78
on 30/04/2024, 23:22:11 UTC
The sender is the party paying the fee and they are definitely not benefiting from the fee.
Well one would argue that if a sender pays a higher transaction fee then their transaction would be prioritized by miners thus letting their transaction go through faster. But this system really doesn’t leave any choice for the senders. So in the end they just have to pay even if it’s out of their will.
Quote
do these increased fees help bitcoin to be a better form of digital cash?

No not at all if anything people are starting to complain about how expensive the transaction fees are. We can’t even make small transactions as the transaction fees would just be too expensive. It hinders us from actually using bitcoin as a currency.